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U.S. Senate panel backs Powell for Fed chief

Reuters  |  WASHINGTON 

WASHINGTON (Reuters) - The U.S. Senate Banking Committee on Tuesday voted to approve Fed Governor Jerome Powell to lead the Federal Reserve, sending his nomination to the full Senate for a vote.The committee advanced his nomination by a vote of 22-1. All Republicans on the panel backed him as did 10 of the 11 Democrats, with the exception of Senator Elizabeth Warren. Powell, 64, was nominated by President Donald Trump last month to head the U.S. central bank. The lawyer and investment banker has served on the Fed's Board of Governors since 2012.At his nomination hearing a week ago, Powell ...

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First Published: Tue, December 05 2017. 21:06 IST